Manufacturing’s steady recovery over the last two years is continuing and creating jobs.
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Ai Group’s Australian PMI has recorded 20 months of growth and is supported by the latest ABS numbers.
Ai Group chief executive Innes Willox said the solid recovery was positive news in a big employing sector and reflected confidence building across the economy. He said the industrial growth had come despite the wind down in auto production.
“The industry's performance reflects the changing face of manufacturing in Australia and especially the strengthening focus on innovation, exports and advanced manufacturing technologies," he said.
ABS National Accounts data shows manufacturing output recovering by a further 2.4 per cent in the March quarter.
It is 6.4 per cent higher than one year earlier.
The ABS data reveals the longest expansion in manufacturing since 2011. The last time manufacturing output expanded in annual growth terms for longer than four quarters was in 2006-07.
Mr Willox said the latest recovery has taken manufacturing output volumes back to the same level as 2014.
The ABS value-added output data and the Ai Group Australian PMI both show the recovery in 2017 and 2018 has been especially strong in the food and beverages sector.
Greg Ellis
Almost four decades in electronic, print and digital media. A writer, presenter, emcee, photographer and videographer with degrees in business management, marketing and human resources and tertiary qualifications in photography.
Almost four decades in electronic, print and digital media. A writer, presenter, emcee, photographer and videographer with degrees in business management, marketing and human resources and tertiary qualifications in photography.
